My illustrated "Box-Analysis" is still active.
Possible Levels for a new Long entry are the fibos. To Play the box, the Price ideally will turn around between the min and the normal correction Level (38,2- 0,5) = 1330
This would be the entry for the risk loving countertrader, the falling-knife-catcher ;-)
The "Patient Trader" Version has to wait till the Price Drops through the mangenta box`s bottom (stopsell / tp bottom blue box)
For a better understanding, feel free to read my former views.Best Regards Mary
September: Gold = 1435$?
I nearly can`t believe that my former views were all slam-dunks! :-) Crazy!
Currently we still have a pure Situation in this TF.
The requirement for a further upwave to 1435$:
Beating the mangenta Box can be seen as the first longsignal, but not the "real" one.
Only trading above the blue Box will activate the flag and open the way up to 1400$. 1375$ is the Level to watch!
Trading below 1300$ will destroy the Setup.
2 interesting Trading Boxes Part II
Please read my former view first (see below)
These hours we have reached the TP of my former view (see below)- the bottom of the illustrated blue box! So i have to update my view.
We played the in my main view illustrated variante no. 2 (mangenta box - see below).
Now i see the chance to play variante 1 of the Blue Box:
1. The Anticyclical Risk Lover would BUY the bottom of this Box with a SL, near below this edge @ 1.300$. Box TP1 would be the bottom and upper edge of the mangenta box and than the upper edge of the blue box again
At the blue box`s bottom we have a classical action point were a decision has to be made. Here you could make a straddle - that means you open 2 positions, one long at the present level and a stoppsell order below todays low with a sl near above the blue boxs bottom edge.
The streesed out BBs, the four times bought supportlevel and the in combination with an oversold could be a nice anticyclical and risky longchance.
We are here: also enar the next longterm action point
2 interesting Trading Boxes!
Since July, a Trading Box appeared: 1306$ - 1375$.
Within that Box, we can see the next shortterm Box which reaches from 1330$ to 1356$
Interesting are the edges from each Box.
Trading ideas Blue Box:
1. The Anticyclical Risk Lover would BUY the bottom of this Box with a SL, near below this edge @ 1.300$. Box TP1 would be the upper edge
On the other side, the Risk Lover could sell the upper edge @ 1.375$ (SL near above that Level) TP=Box`s Bottom
2.The cyclical patient Trader would prefer waiting till we break through one of the Box`s edges (Stoppbuy or Stoppsell with a closely SL near the edge)
Trading Ideas Mangenta Box:
1. The Anticyclical Risk Lover would BUY the bottom of this Box with a SL, near below this edge @ 1.330$. TP1 would be the upper Boxedge mangenta, and TP2= upper BoxEdge Blue. On the other side, the Risk Lover could sell the upper edge @ 1.356$ (SL near above that Level) TP1=Mangenta Box`s Bottom/ TP2 Blue Box`s Bottom
2.The cyclical patient Trader would prefer waiting till we break through one of the Box`s edges (Stoppbuy or Stoppsell with a closely SL near the edge) TPs are the edges of the blue Box
- today we see the big dynamicTrendbreak - this also was the start of the "bluebox" trade . xau is Kissing the EMA 200 at the moment ..RSI oversold now..
Is this level the level for a little rebound up to thtodays breakout level, the 38,2 fibo?